Shopify Inc. (NYSE:SHOP) Receives Consensus Rating of “Hold” from Brokerages

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) has received a consensus rating of “Hold” from the thirty-five brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seventeen have assigned a hold recommendation and seventeen have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $76.86.

SHOP has been the subject of several research reports. BNP Paribas upgraded shares of Shopify from an “underperform” rating to an “outperform” rating in a research report on Thursday, May 2nd. CIBC decreased their price objective on Shopify from $100.00 to $85.00 and set an “outperformer” rating on the stock in a research report on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Shopify in a report on Thursday. Citigroup dropped their price objective on Shopify from $105.00 to $95.00 and set a “buy” rating for the company in a report on Thursday. Finally, Wells Fargo & Company lowered their price target on shares of Shopify from $85.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday.

Institutional Trading of Shopify

Large investors have recently added to or reduced their stakes in the company. StoneCrest Wealth Management Inc. acquired a new stake in Shopify in the 4th quarter valued at about $1,164,000. Asset Management One Co. Ltd. boosted its stake in shares of Shopify by 4,007.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker’s stock worth $2,807,000 after acquiring an additional 34,624 shares during the period. SeaCrest Wealth Management LLC acquired a new position in shares of Shopify during the 4th quarter worth approximately $433,000. Bleakley Financial Group LLC increased its holdings in shares of Shopify by 18.5% during the 4th quarter. Bleakley Financial Group LLC now owns 10,778 shares of the software maker’s stock worth $840,000 after acquiring an additional 1,681 shares during the last quarter. Finally, Advisor Resource Council bought a new stake in Shopify in the 4th quarter valued at $1,488,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

NYSE:SHOP opened at $62.47 on Friday. The stock has a market capitalization of $80.37 billion, a P/E ratio of 694.11 and a beta of 2.20. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10. Shopify has a 1 year low of $45.50 and a 1 year high of $91.57. The firm has a 50 day moving average of $74.48 and a 200-day moving average of $73.70.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. As a group, sell-side analysts anticipate that Shopify will post 0.59 EPS for the current fiscal year.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.